Page 5 - Tech Prowess News Today

Angel One, the countrys third largest stock broker, is set to undertake a major corporate restructuring exercise, according to two people in the know. Angel One is setting up a holding company under which all its different business entities will be held as subsidiaries.

Gangadhar had quit Angel One to join rival broking platform 5Paisa only a year ago. According to sources, Gangadhars resignation will come into effect on August 28.

ACT Fibernet is among Indias largest wired internet service providers, operating in 25 cities and serving 2.2 million customers. With this investment, the company aims to strengthen its ability to provide the best home Wi-Fi experience for its customers.

TCS chairman N Chandrasekaran announced over 100 Gen AI projects within Tata Group, showcasing tangible business impact in customer experience, productivity, and efficiency.

GetVantage, founded in late 2019, has funded 1,500 companies with a combined GMV of $900 million across categories ranging from B2B SaaS, subscription businesses, D2C, eCommerce, edtech, healthtech, cloud kitchens, and nutrition, among others.

Stripe has shifted to an invite only mode in India for merchants, citing strict KYC requirements. The move may indicate a shift towards cross-border payments, with support for more Indian merchants expected by the second half of 2025.

Oxyzo Financial Services, the lending arm of OfBusiness, reported a 59% increase in operating revenue to Rs 903 crore for FY24. The company raised $200 million at a unicorn valuation from investors like Alpha Wave Global. Ruchi Kalra leads Oxyzo, which has a net worth of Rs 2,600 crore.

Global capability centres (GCCs) operating in India have made it a priority to understand local compliance norms amid an evolving regulatory and GenAI landscape, as per a Nasscom-KPMG survey report.

Founded in April 2022 by former Zoomcar C-suite executives Hemanth Aluru and Sudhindra Reddy, Bengaluru-based Turno provides financing solutions to small and mid-size enterprises as well as individuals who plan to buy commercial three-wheeler (3W) electric vehicles.

The bench strength at top Indian outsourcers has nearly halved of late, with higher utilisation and generative artificial intelligence (GenAI) driving efficiency in the $254-billion IT industry. Bench strength in the IT industry means full-time employees who are not assigned any active project.